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Thread: Real Estate Crash thread

  1. #28076
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    Quote Originally Posted by Mustonen View Post
    I think the problem has generally been supply, and when investors are buying a quarter of available homes to flip into SFR it indeed fucks up the market and creates a weird mania.

    This is not a problem in some areas, and has been a huge problem in other areas. Speaking first hand, it sucks to compete against investors who can simply move way faster with cash offers and pocket listings. I lost out on a couple homes for that reason.
    Yeah, it’s mostly a supply issue.

    And in areas where maybe institutional investors are buying up a large share of SFH offered for sale, allowing for increased supply solves that.

    There’s a reason institutional investors back NIMBY policy.

  2. #28077
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    Yeah, but even that is limiting. "Supply issues" in any market only exist when there is demand for said product. So yeah, where I live supply isn't keeping up with demand but their is all lot of fucking new supply. But not enough to keep up with all the people that want to own property here.

  3. #28078
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    Quote Originally Posted by J. Barron DeJong View Post
    Sure. Share of -institutional investors- is still small:

    Attachment 503021

    https://www.freddiemac.com/research/...ePrices-12.pdf
    It is even worse than that--I believe that Redfin statistic is purely based on looking for home buyers who use a company name.

    So that includes institutional investors and large/medium scale landlords.

    But it also includes smalltime landlords who usually buy homes to rent under an LLC (not a great idea to buy it in your own name). And it includes individuals buying for themselves via an LLC or trust...which is pretty common for people seeking privacy or with various accounting issues...


    That being said, the flip side is that real estate is a local issue. Doesn't really matter what the institutional share is nationally because homes in Cleveland don't really compete much with homes in Phoenix. A corporate landlord who owned 10% of the housing stock in a metro area within a certain price point would have a lot of power even if nationally the only own 0.001%.

  4. #28079
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    Agree, the national stats don't reflect impact on individual cities or within particular price points. Google says there's only about 2 million airbnbs in the US, which is only about three or four x the number of homes owned by institutions (A little hand wavy because I don't know how airbnbs break down across apartments, condos, and single family). There's not much doubt that ABB is impacting housing prices, easy for me to imagine. Institutional ownership is at least contributing to the issue.

  5. #28080
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    https://vancouversun.com/business/re...n-rents-report

    apparently STR's affect rents, who knew ?
    Lee Lau - xxx-er is the laziest Asian canuck I know

  6. #28081
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  7. #28082
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    Dec 2005
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    For sale but no pets...

    Sent from my SM-S236DL using Tapatalk

  8. #28083
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    taking it to mean no pets in the home

  9. #28084
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    Not including basement means that part isn’t for sale.

    They’ll still be down there. At night.
    focus.

  10. #28085
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    Ran into a guy in Bozeman from opheim. Dude was a character.

  11. #28086
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    Quote Originally Posted by Mustonen View Post
    Not including basement means that part isn’t for sale.

    They’ll still be down there. At night.
    Naw, they're probably just using it for cooking meth and don't want to share.

  12. #28087
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    Real Estate Crash thread

    Highest inventory since 2011 in Austin. 30% markdown on new build

    https://www.zillow.com/homedetails/1...ource=txtshare

  13. #28088
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    Quote Originally Posted by 4matic View Post
    Highest inventory since 2011 in Austin. 30% markdown on new build

    https://www.zillow.com/homedetails/1...ource=txtshare
    Austin has been building faster than any other city, and prices have been falling because of it.

    Wish that everyone would learn from their example.

  14. #28089
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    Also I think a lot of people move there, and a few years later say ‘fuck this’ to the heat and traffic.
    Forum Cross Pollinator, gratuitously strident

  15. #28090
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    Quote Originally Posted by rideit View Post
    Also I think a lot of people move there, and a few years later say ‘fuck this’ to the heat and traffic.
    Perhaps there’s more churn(?), but it’s not slowing growth that caused the recent price drops:

    Click image for larger version. 

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  16. #28091
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    Mar 2006
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    I know a few people moved to Austin to chase the dream. Got hammered. Stuck.

    DR Horton bad miss a Lennar warning about death spiral.

  17. #28092
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    Quote Originally Posted by 4matic View Post
    I know a few people moved to Austin to chase the dream. Got hammered. Stuck.

    DR Horton bad miss a Lennar warning about death spiral.
    People moved to *Texas* to chase a dream? That is some fucked up shit, man...

  18. #28093
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    I’ve heard it’s bigger there.

  19. #28094
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    I thought the dream is to GTFO of Texas.

  20. #28095
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    Quote Originally Posted by ColMan View Post
    I thought the dream is to GTFO of Texas.
    I mean... if I were unfortunate enough to find myself there, I'd think that would be my #1 dream.

  21. #28096
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    Quote Originally Posted by skaredshtles View Post
    I mean... if I were unfortunate enough to find myself there, I'd think that would be my #1 dream.
    Austin is Texas cosplaying, and for some reason a lot of people seem to be into that.

  22. #28097
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    Quote Originally Posted by Dantheman View Post
    Austin is Texas cosplaying, and for some reason a lot of people seem to be into that.
    I visited Austin on business once... and if that's the *best* part of Texas... they're truly fucked.


  23. #28098
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    Mortgage broker calls nine days from closing to say the locked rate can no longer be honored. That's nice.

  24. #28099
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    Quote Originally Posted by Mazderati View Post
    Mortgage broker calls nine days from closing to say the locked rate can no longer be honored. That's nice.

  25. #28100
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    Feb 2005
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    Quote Originally Posted by skaredshtles View Post
    I visited Austin on business once... and if that's the *best* part of Texas... they're truly fucked.

    The best part of Texas is east Texas because California isn't there yet.

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